Investors Don't Share Citi's Values

By

David Reilly

Dec. 9, 2012 5:07 p.m. ET

Once again, Citigroup is showing why investors have lingering doubts over the value banks place on their assets.

Citi is looking to shed about $171 billion in crisis-era assets it still holds, equal to about 9% of its balance sheet. Of these, about $95 billion are North American mortgages. The problem: Citi and markets have very different views of what these mortgages are worth.